State corporation is a 30-owned equity investee of pico, Ask an Expert

Accounting

State Corporation is a 30%-owned equity investee of Pico Corporation. During 2003, State declared $50,000 in dividends to be paid in 2004. How does the dividend declaration affect Pico's balance sheet at December 31, 2003?

A-It decreases current assets.

B-It increases current assets.

C-It increases the Investment in State account.

D-It decreases the Investment in State account.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9412248

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